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What (who) is Contract - definition
contract
![negotiable]] contracts.](https://commons.wikimedia.org/wiki/Special:FilePath/1951 Bombay Province Rs 2500 Hundi.jpg?width=200 "negotiable]] contracts.")
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![[[Hugo Grotius]], one of the jurists credited with the development of Roman Dutch law](https://commons.wikimedia.org/wiki/Special:FilePath/Mierevelt grotius 1608.jpg?width=200 "[[Hugo Grotius]], one of the jurists credited with the development of Roman Dutch law")
![A contract from the [[Tang dynasty]] that records the purchase of a 15-year-old slave for six bolts of plain silk and five Chinese coins](https://commons.wikimedia.org/wiki/Special:FilePath/Chinese Slave trade.jpg?width=200 "A contract from the [[Tang dynasty]] that records the purchase of a 15-year-old slave for six bolts of plain silk and five Chinese coins")
![[[Thomas Boylston]] to [[Thomas Jefferson]], May 1786, Maritime Insurance Premiums](https://commons.wikimedia.org/wiki/Special:FilePath/Insurance Contact 2.jpg?width=200 "[[Thomas Boylston]] to [[Thomas Jefferson]], May 1786, Maritime Insurance Premiums")
![[[Fire insurance]] contract of 1796](https://commons.wikimedia.org/wiki/Special:FilePath/Insurance contract.jpg?width=200 "[[Fire insurance]] contract of 1796")
AGREEMENT HAVING A LAWFUL OBJECT ENTERED INTO VOLUNTARILY BY MULTIPLE PARTIES (MAY BE EXPLICITLY WRITTEN OR ORAL)
Contract law; Binding agreement; Contracts; Express contract; Verbally binding; Verbal contracts; Contractual; Guarantees; Contract Law; Bilateral contract; Unilateral contract; Obligee; Obligor; Service agreement; Contractual rights; Unilateral Contracts; Contractual agreement; Contractual obligations; Law of contracts; Contracting party; Contracting; Contract system; Legal contract; Contracts law; Written contracts; Types of contract; Contract (legal); Legal Detriment; Legal agreement; Kill fee; Cotract; Contractual powers; Contractual power; Law of contract; Contract document; Nominate contract; Contractual law; Written contract; Binding contract; Requirements of an Insurance Contract; Performance of a contract; Performance of an obligation; Specific contract; Service Agreement; Parent contract; User:Nenadimitrovski81/Objective theory of contract; Business efficacy test
(contracted)
Frequency: The word is one of the 1500 most common words in English.
1.
A contract is a legal agreement, usually between two companies or between an employer and employee, which involves doing work for a stated sum of money.
The company won a prestigious contract for work on Europe's tallest building...
He was given a seven-year contract with an annual salary of $150,000.
N-COUNT
2.
If you contract with someone to do something, you legally agree to do it for them or for them to do it for you. (FORMAL)
You can contract with us to deliver your cargo...
The Boston Museum of Fine Arts has already contracted to lease part of its collection to a museum in Japan.
VERB: V with n to-inf, V to-inf
3.
When something contracts or when something contracts it, it becomes smaller or shorter.
Blood is only expelled from the heart when it contracts...
New research shows that an excess of meat and salt can contract muscles.
VERB: V, V n
• contraction (contractions)
...the contraction and expansion of blood vessels...
Foods and fluids are mixed in the stomach by its muscular contractions.
N-VAR
4.
When something such as an economy or market contracts, it becomes smaller.
The manufacturing economy contracted in October for the sixth consecutive month.
VERB: V
5.
If you contract a serious illness, you become ill with it. (FORMAL)
He contracted AIDS from a blood transfusion...
Ovarian cancer is the sixth most common cancer contracted by women.
VERB: no cont, V n, V-ed
6.
If you contract a marriage, alliance, or other relationship with someone, you arrange to have that relationship with them. (FORMAL)
She contracted a formal marriage to a British ex-serviceman.
= enter into
VERB: V n
7.
If there is a contract on a person or on their life, someone has made an arrangement to have them killed. (INFORMAL)
The convictions resulted in the local crime bosses putting a contract on him...
N-COUNT: usu N on n
8.
If you are under contract to someone, you have signed a contract agreeing to work for them, and for no-one else, during a fixed period of time.
The director wanted Olivia de Havilland, then under contract to Warner Brothers.
PHRASE: oft PHR to n
contract
AGREEMENT HAVING A LAWFUL OBJECT ENTERED INTO VOLUNTARILY BY MULTIPLE PARTIES (MAY BE EXPLICITLY WRITTEN OR ORAL)
Contract law; Binding agreement; Contracts; Express contract; Verbally binding; Verbal contracts; Contractual; Guarantees; Contract Law; Bilateral contract; Unilateral contract; Obligee; Obligor; Service agreement; Contractual rights; Unilateral Contracts; Contractual agreement; Contractual obligations; Law of contracts; Contracting party; Contracting; Contract system; Legal contract; Contracts law; Written contracts; Types of contract; Contract (legal); Legal Detriment; Legal agreement; Kill fee; Cotract; Contractual powers; Contractual power; Law of contract; Contract document; Nominate contract; Contractual law; Written contract; Binding contract; Requirements of an Insurance Contract; Performance of a contract; Performance of an obligation; Specific contract; Service Agreement; Parent contract; User:Nenadimitrovski81/Objective theory of contract; Business efficacy test
1) n. an agreement with specific terms between two or more persons or entities in which there is a promise to do something in return for a valuable benefit known as consideration. Since the law of contracts is at the heart of most business dealings, it is one of the three or four most significant areas of legal concern and can involve variations on circumstances and complexities. The existence of a contract requires finding the following factual elements: a) an offer; b) an acceptance of that offer which results in a meeting of the minds; c) a promise to perform; d) a valuable consideration (which can be a promise or payment in some form); e) a time or event when performance must be made (meet commitments); f) terms and conditions for performance, including fulfilling promises; g) performance, if the contract is "unilateral". A unilateral contract is one in which there is a promise to pay or give other consideration in return for actual performance. (I will pay you $500 to fix my car by Thursday; the performance is fixing the car by that date.) A bilateral contract is one in which a promise is exchanged for a promise. (I promise to fix your car by Thursday and you promise to pay $500 on Thursday.) Contracts can be either written or oral, but oral contracts are more difficult to prove and in most jurisdictions the time to sue on the contract is shorter (such as two years for oral compared to four years for written). In some cases a contract can consist of several documents, such as a series of letters, orders, offers and counteroffers. There are a variety of types of contracts: "conditional" on an event occurring; "joint and several," in which several parties make a joint promise to perform, but each is responsible; "implied," in which the courts will determine there is a contract based on the circumstances. Parties can contract to supply all of another's requirements, buy all the products made, or enter into an option to renew a contract. The variations are almost limitless. Contracts for illegal purposes are not enforceable at law. 2) v. to enter into an agreement.
See also: adhesion contract bilateral contract consideration oral contract unilateral contract
contract
AGREEMENT HAVING A LAWFUL OBJECT ENTERED INTO VOLUNTARILY BY MULTIPLE PARTIES (MAY BE EXPLICITLY WRITTEN OR ORAL)
Contract law; Binding agreement; Contracts; Express contract; Verbally binding; Verbal contracts; Contractual; Guarantees; Contract Law; Bilateral contract; Unilateral contract; Obligee; Obligor; Service agreement; Contractual rights; Unilateral Contracts; Contractual agreement; Contractual obligations; Law of contracts; Contracting party; Contracting; Contract system; Legal contract; Contracts law; Written contracts; Types of contract; Contract (legal); Legal Detriment; Legal agreement; Kill fee; Cotract; Contractual powers; Contractual power; Law of contract; Contract document; Nominate contract; Contractual law; Written contract; Binding contract; Requirements of an Insurance Contract; Performance of a contract; Performance of an obligation; Specific contract; Service Agreement; Parent contract; User:Nenadimitrovski81/Objective theory of contract; Business efficacy test
I
n.
1) to conclude, sign; negotiate; ratify a contract
2) to carry out, execute a contract
3) to draw up, write a contract
4) to assign (after bidding), let; award a contract
5) to abrogate, cancel, repudiate a contract
6) to breach, break, violate a contract
7) a legal, valid; void contract
8) (colloq.) (AE) a sweetheart contract ('an agreement favorable to the employer that was reached without the participation of the union members')
8) (AE) a yellow-dog contract ('a contract that obligates the workers not to join a union')
9) a marriage contract
10) a contract for; with
11) under contract with (that player is under contract with our team)
II
v.
1) (d; intr.) to contract for; with (the city contracted for a new library with their firm)
2) (E) the firm contracted to construct the bridge
Wikipedia
Contract
A contract is a legally enforceable agreement that creates, defines, and governs mutual rights and obligations among its parties. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date.
Examples of use of Contract
1. A contract is a contract, even if it is a contract to kill.
2. A contract is still a contract – even if it is a contract to kill 4.
3. As contract workers there is no obligation beyond that contract.
4. This contract is likely to be a long term concession contract or a combination of management and concession contract.
5. After all, business is business and the Iranians should accept that a contract is a contract.